________ ________________________
FORM 4 U.S. Securities and Exchange Commission OMB APPROVAL
________ Washington, D.C. 20549 ________________________
[ ] Check this box if no longer OMB Number 3235-0287
subject to Section 16. Form Expires: February 1, 1994
4 or Form 5 obligations may Estimated average burden
continue. See Instruction 1(b). hours per response... 0.5
_________________________
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of 2. Issuer Name and Ticker or
Reporting Person Trading Symbol
Golsen, Sylvia H. LSB Industries, Inc. (LSB)
_____________________________________________________________________
(Last) (First) (Middle) 3. IRS or Social Security
No. of Reporting Person
16 South Pennsylvania (Voluntary)
Post Office Box 705
____________________________
(Street) ###-##-####
Oklahoma City, Oklahoma 73101
_______________________________________________________________________
(City) (State) (Zip)
4. Statement for Month/Year: December, 1995
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer (Check all applicable)
____ Director X 10% Owner ____ Officer (give title below)
____ Other (specify below)
___________________________________
_________________________________________________________________________
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
_________________________________________________________________________
1. Title of 2. Transaction 3. Transaction 4. Securities Acquired
Security Date (Month/ Code (A) or Disposed of
Day/Year) (Instr. 8) (D) (Instr. 3, 4, 5)
Code V Amount (A) Price
or
(D)
Common Stock - - - - -
Common Stock 12/01/95 P 1,000 A $3.875
Common Stock 12/04/95 P 1,000 A $3.875
Common Stock 12/04/95 P 1,000 A $3.75
Common Stock 12/04/95 P 3,000 A $3.75
5. Amount of 6. Ownership Form: 7. Nature of
Securities Direct (D) or Indirect
Beneficially Indirect (I) Beneficial
Owned at End (Instr. 4) Ownership
of Month (Instr. 4)
(Instr. 3 & 4)
1,168,984(4) D -
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
1,098,299(6) I By SBL(1)
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Reminder: Report on a separate line for each Page 1 of 2
class of securities beneficially SEC 1474 (3/91)
owned directly or indirectly
(Print or Type Response)
FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed
of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
__________________________________________________________________________
1. Title of 2. Conversion 3. Transaction 4. Transaction 5. Number of
Security or Exercise Date Code Derivative
(Instr. 3) Price of (Month/Day/ (Instr. 8) Securities
Derivative Year) Code V Acquired (A)
Security or Disposed
of (D)
(Instr. 3,4,5)
(A) (D)
Preferred "B" (2) - -
Preferred "C" $11.55 12/06/95 P 1,000
Preferred "C" $11.55 12/06/95 P 500
Preferred "C" $11.55 12/07/95 P 1,000
Preferred "C" $11.55 12/11/95 P 1,000
Preferred "C" $11.55 12/12/95 P 2,000
Preferred "C" $11.55 12/13/95 P 2,000
Preferred "C" $11.55 12/14/95 P 1,000
Preferred "C" $11.55 12/15/95 P 2,000
Preferred "C" $11.55 12/18/95 P 1,000
6. Date Exercisable 7. Title and Amount of 8. Price of
and Expiration Underlying Securities Derivative
Date (Instr. 3 and 4) Security
(Month/Day/Year) Amount (Instr. 5)
Date Expir- or
Exer- ation No. of
cisable Date Title Shares
(2) (2) Common 533,333 -
(3) (3) Common 4,329 $31.50
(3) (3) Common 2,165 $32.25
(3) (3) Common 4,329 $32.25
(3) (3) Common 4,329 $32.00
(3) (3) Common 8,658 $32.00
(3) (3) Common 8,658 $32.00
(3) (3) Common 4,329 $32.00
(3) (3) Common 8,658 $32.00
(3) (3) Common 4,329 $32.25
9. Number of 10. Ownership Form 11. Nature of Indirect
Derivative of Derivative Beneficial Owner-
Securities Security: ship (Instr. 4)
Beneficially Direct (D) or
Owned at End Indirect (I)
of Month (Instr. 4)
(Instr. 4)
16,000(6) I By SBL(1)
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
- I By SBL(1)
24,150(5) I By SBL(1)
__________________________
Explanation of Responses:
(1) SBL Corporation ("SBL") is wholly owned by Sylvia H. Golsen (40% owner),
Barry Golsen (son and 20% owner), Steven Golsen (son and 20% owner), and
Linda Rappaport (daughter and 20% owner).
(2) Each share of the Company's Series "B" 12% Cumulative Preferred Stock
is convertible, at the option of the holder, into 33.3333 shares of the
Company's Common Stock. Each share is convertible as long as such is
outstanding.
(3) Each share of the Company's $3.25 Convertible Exchangeable Class C
Preferred Stock, Series 2 is convertible at the option of the holder into
4.329 shares of the Company's Common Stock. Each share is convertible as
long as such is outstanding.
(4) The amount shown does not include, and Sylvia H. Golsen disclaims
beneficial ownership of (a) the 89,028 shares of Common Stock owned of record
by Jack E. Golsen, (b) the 4,000 shares of Common Stock that Jack E. Golsen
has the right to acquire upon the conversion of a promissory note, (c) the
33,000 shares of Common Stock that Jack E. Golsen may acquire upon exercise
of a Nonqualified Stock Option, (d) the 40,000 shares of Common Stock
underlying options granted to Jack E. Golsen under the Company's Incentive
Stock Option Plans, (e) the 133,333 shares of Common Stock which Jack E.
Golsen has the right to acquire upon conversion of the 4,000 shares of
Series B Preferred Stock owned of record by him, and (f) the 10,000 shares
owned of record by the MG Trust, of which Jack E. Golsen is the sole trustee.
(5) The shares are convertible into 104,545 shares of Common Stock.
(6) The number of shares includes 60,600 shares of Common Stock and 4,000
shares of Preferred "B" owned of record by Golsen Petroleum Corporation,
the wholly owned subsidiary of SBL.
**Intentional misstatements or
omissions of facts constitute
Federal Criminal Violations.
/s/ Sylvia H. Golsen January 10, 1996
_____________________________ _____________
See 18 U.S.C. 1001 and **Signature of Reporting Person Date
15 U.S.C. 78ff(a). Sylvia H. Golsen
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 2
MBEN\K-M\LSB\FORMS345\EDGAR\12-95F4.SHG SEC 1474 (3/91)
